Bharat Forge Limited have announced 1:1 bonus on 10th August 2017 during the quarterly results for which the record date has been set to 30-Sep-2017.
On 10-Aug-2017, board meeting held and a bonus issue was recommended which is subject to shareholders’ approval through postal ballot.
Following that, On 08-Sep-2017 Bharat Forge have set the record date as 30-Sep-2017 and the ex-date of the bonus falls on 28-Sep-17. The results of postal ballot will be announced by the company at its registered office on September 24, 2017.
Bharat Forge Share Dividend History:
Previously, Bharat Forge announced a 1:1 bonus in 1989 for which the record date is 12-Apr-1989. After few decades, now it has announced an astounding 1:1 bonus which means the shareholders will get one bonus equity share of Rs. 2.00 each fully paid up for every one paid up equity share of Rs.2 held.
Earlier this year, two dividends have been announced by the company, an interim and final dividend which has given a positive yield to its share holders.
Bharat Forge Limited, one of the India’s largest Forging and Engineering company owned by Kalyani Group of companies with headquarters in Pune, India majorly involves in automotive, power, marine and aerospace industries. It is a regular dividend paying company as for past decade they have announced one or two dividends every year.
Bharat Forge Last Quarter results highlights:
For the second quarter of 2017, the company reported net profit of Rs. 275.69 crore which is 8.81% rise comparing to Q1 2017.
Bharat Forge share price on 10-Aug-2017 is 1142.85 and on 18th Sep 2017 it is trading at 1246.65 in NSE.